Volvo Auto India, the Indian subsidiary of the Swedish automobile manufacturer Volvo has posted a growth of 155 percent in its sales for the calendar year 2012 selling a total of 811 units. The carmaker targets a 50 growth in the current year 2013 to sell 1,200 units by the end of 2013.
The Swedish automobile maker expects a growth of 4 percent in its share in the Indian luxury car market by the end of 2013. The carmaker’s share grew by 1 percent in the year 2011 and by 3 percent in the year 2012.
Commenting on the development, Mr. Tomas Ernberg Managing Director (MD) Volvo Auto India stated that the company’s penetration of the luxury segment in India has increased from less than 1 percent to 1.3 percent. He added that Volvo targets a 15 percent market share in the Indian luxury car segment selling 20,000 cars by 2020.